Author: Numbers@Divas01

This has been a long time in the making and we are so excited and proud to debut this site. Our new features include bios on The Numbers Divas team, a detailed outline of our service offerings, our snazzy new blog, where we’ll discuss the common pitfalls, fears, and mistakes business owners make around bookkeeping and money management, and many more exciting features!Continue reading Welcome to The Numbers Divas’ New Site & Our Free Gift!

The subject of today’s tip is every entrepreneur’s favorite monthly chore – Reconciliation! Now, this is not about kissing and making up with your loved one after a disagreement….. We are talking about reconciling your bank accounts in an accounting system, such as QuickBooks Online. Oh dear, now I am sure your eyes are starting to glaze over, but please stay with me! This process is critical for keeping accurate financial records for your business.

Today’s tip is all about understanding the financial information for your business, which is reflected on Financial Statements. Ok, so I am sure that you have heard the term Financial Statement before, but probably have always been confused as to its exact meaning in relation to Your business. You are probably wondering, “Which statements are the most important, what is the meaning of the numbers on the statements, and which statement do you share with your CPA for tax filing? Now I know numbers may not be your thing, and you might already be bored, but please stay with me. Here’s the thing, your numbers tell a story, and their voice is revealed through your financial statements. Without your statements, you’re flying blind, up the creek without a paddle, on a tightrope without a net; I think you get the point.

Today we’re going to answer a question that we get asked all the time, “What information do I need to save for the IRS in case of an audit, how long do I need to save it, and how should I best organize all this information?“ “Are electronic receipts ok, or does the IRS require paper receipts?” With the answer in this Numbers Divas tip, you can finally stop worrying about this issue, and concentrate on making more money in your business!Continue reading Numbers Divas Tip: “What Information Do You Need to Save in Case of an IRS Audit?”